EUR/USD: consolidation unfolding
Eurodollar has stopped rallying and is in a consolidation phase. Currently it is falling within its range and it will probably fall further to the range lows at about 1.3145. There is a possibility the consolidation will continue unfolding and then break higher, with 1.3500 providing the next upside target for the pair, alternatively deeper declines could see it fall to support at 1.3119.
Analysis by: Joaquin Monfort
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.